The Reserve Bank of India’s (RBI) special swap facility has mobilised 40.81 billion dollars in foreign exchange inflows as of yesterday, nearly doubling the 20.71 billion dollars recorded as of July 17, indicating continued strong response to the central bank’s measures to encourage foreign currency inflows and strengthen the country’s balance of payments.
According to the latest RBI data, Foreign Currency Non-Resident Bank, FCNRB deposits accounted for the bulk of the inflows at 36.72 billion dollars, while Overseas Foreign Currency Borrowings OFCBs contributed 2.57 billion dollars. External Commercial Borrowings (ECBs) mobilised a further 1.5 billion dollars.
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